Price Fluctuations. Talk about about a price that you think is too high or too low, that the price is the result of the interactions of supply and demand, please use supply and demand to explain why the price is strange
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500 words about Price Fluctuations ,Please follow the the directions below, chapter notes will be attached in case you need more resources, an example will be provided so you can get an Idea how it should be, also a response to a classmate’s post.
Please tell us about a price that you think is too high or too low. Keeping in mind what we learned in this chapter, that the price is the result of the interactions of supply and demand, please use supply and demand to explain why the price is strange, and what causes it to be so.
And a response to a classmate post:
During the months leading up to the spring and summer, the summer clothes are being brought out in the stores. It’s always the newest bunch of clothes that’ll be trendy for that year, and they’re always much more expensive during the time of year leading up to those few summer months than they are in the fall. During the fall, most of the summer clothing starts being put on clearance and then by winter the stores are practically giving the summer selection of clothing away. This is because as each new season rolls around the demand for clothing fit for that time of year is high. People shopping for summer clothes in the winter is far less common than people shopping for summer clothes in the spring and summer. The demand for the clothing following the trends of the season is incredibly high when it is that season’s time of the year, therefore, the clothes cost more. In the winter, the demand for summer dresses is low so the cost is low.
Here is an example of great work:
Every summer I notice that the price of tomatoes falls. I figure that this is because tomatoes grow best in summer, although they can be grown in greenhouses year-round. This would be modeled by a rightward shift in the supply curve. At the same time, I think demand for tomatoes probably increases in the summer as well since people tend to eat more salads and lighter foods in the summer -this would be a rightward shift in demand. Since both curves are shifting right, but I observe the price falling, it must be that the shift in supply is greater than the shift in demand for tomatoes in the summer. Since both demand and supply are shifting to the right, but the price falls, it must be that the shift in supply is greater than the shift in demand.
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